(Eurostat) The gross domestic product in the euro area rose by 2.2% in the third quarter, while the EU registered a lower 2.1% expansion. The GDP had increased by similar margins in the second quarter in both regions.
Austria posted the largest quarterly increase in GDP at 3.8%, while France and Portugal came second and third at 3.0% and 2.9%, respectively. Growth was slowest in Romania and Slovakia at 0.4%, while Lithuania posted no increase.
The GDP has now risen by 3.9% and 4.1% in the euro area and EU, respectively, compared to last year. The increase is lower than a year over year gain of 14.4% and 13.4% in the euro area and EU, respectively, in the second quarter.
Euro area and EU growth in the third quarter still surpasses that of the US, which registered a 0.5% expansion. Compared to the prior year, US GDP was up by 4.9% in the third quarter.
Employment also grew, with the number of employed persons rising by 0.9% in the euro area and EU in the third quarter. The increase is higher than a gain of 0.8% in the second quarter.
Compared to the previous year, employment in both the euro area and EU rose by 2.1% in the third quarter, higher than the 2.0% posted in the second quarter.
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